Stock Market & Financial Investment News

Fitch: Major Japanese car makers gained market share in China, Xinhua saysJapanese automakers have regained some of the market share in China that they lost in 2012, when a dispute between Japan and China over a group of islands became well-publicized, ratings agency Fitch said Tuesday, according to Xinhua. Toyota (TM), Honda (HMC) and Nissan (NSANY) are poised to see their sales rise significantly in China in the second half of this year, the news service quoted the ratings agency as saying. Reference Link

Toyota promises to stay profitable in Russia, Financial Times reportsToyota has vowed to stay profitable in Russia although the company expects a 28% drop in the car market in the country, reports the Financial Times. Toyota's president and CEO of Toyota in Europe Didier Leroy said, “Many carmakers now say there is no way — people will lose money in Russia. And we say no way — we will not lose money in Russia ." Reference Link

Nissan says no major new investment needed to meet U.S. goal, Reuters reportsNissan will be able to reach its goal of attaining 10% market share in the U.S. without making any major new investments, said Jose Munoz, an executive vice president at Nissan and the chairman of its North American arm, according to Reuters. Reference Link

Toyota says union salary demands 'impossible,' Reuters reportsToyota said today that it would not be able to meet union demands for a $112 increase in monthly pay, according to Reuters. The statement came at the end of the first day of the company's talks with worker representatives, the news service stated. Reference Link

Honda says Takanobu Ito to step down as CEO, Takahiro Hachigo named new CEOTakanobu Ito is stepping down as president and CEO of Honda, the company announced in a press release. Takahiro Hachigo, Honda's managing officer, will take over as president and CEO in June.

Honda cuts production by another 5,000 due to U.S. port strikes, Reuters saysHonda Motor Co stated it will lower production at two factories in Indiana and Canada from February 24 to March 2 due to a parts shortage brought on by continuing U.S. port strikes, reports Reuters, citing a Honda spokesperson. Total output loss for the two factories -- which mainly produce Civics -- will be roughly 5,000 cars, while total output loss for the company from February 16 to 23 will be roughly 20,000 cars. The spokesperson said supply will be "a little bit better next week" due to air deliveries. Reference Link

Car sales rose in Europe last month, NY Times saysEuropean car sales increased 6.7% in January, versus the same period a year earlier, data from the European Automobile Manufacturers’ Association indicates, according to The New York Times. January was the 17th straight month that European car sales have increased, but they remain well below the levels they reached before the financial crisis, the newspaper stated. Publicly traded companies in the space include Fiat Chrysler (FCAU), Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link